Permian Basin Royalty Trust (NYSE:PBT) Cut to Hold at StockNews.com

StockNews.com lowered shares of Permian Basin Royalty Trust (NYSE:PBT) from a buy rating to a hold rating in a report released on Thursday.

Permian Basin Royalty Trust Trading Down 2.4 %

Shares of NYSE:PBT opened at $11.06 on Thursday. Permian Basin Royalty Trust has a 1-year low of $10.14 and a 1-year high of $14.58. The firm has a market capitalization of $515.50 million, a PE ratio of 14.18 and a beta of 0.70. The business’s 50 day moving average is $11.32 and its 200-day moving average is $11.62.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.0171 per share. This represents a $0.21 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, February 28th. Permian Basin Royalty Trust’s payout ratio is presently 25.64%.

Institutional Trading of Permian Basin Royalty Trust

Institutional investors have recently modified their holdings of the company. Stratos Wealth Partners LTD. acquired a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth approximately $121,000. EagleClaw Capital Managment LLC boosted its stake in Permian Basin Royalty Trust by 2.3% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock valued at $492,000 after buying an additional 925 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Permian Basin Royalty Trust by 16.3% in the 3rd quarter. Moors & Cabot Inc. now owns 535,151 shares of the oil and gas producer’s stock valued at $6,363,000 after buying an additional 75,064 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its stake in Permian Basin Royalty Trust by 23.0% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock valued at $16,647,000 after buying an additional 262,233 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at $110,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.